📊 Market Overview:
Gold surged to a new high at $3,486/oz, surpassing earlier levels around $3,470, driven by elevated expectations of a Fed interest rate cut this month.
A weaker USD—amid dovish Fed comments and a court ruling limiting Trump-era tariffs—further underpinned gold’s appeal.
📉 Technical Analysis:
• Key resistance: $3,490–$3,495 (psychological barrier before $3,500).
• Nearest support: $3,460–$3,465 (EMA 09 + technical zone).
• EMA 09: Gold is trading above EMA 09 → bullish momentum.
• Candles / Volume / Momentum: Continuous rally with strong demand; however, a pullback is likely near resistance.
📌 Outlook:
Gold may continue climbing in the short term if Fed cut expectations remain firm and USD stays weak.
However, stronger US data (such as this week’s NFP) could dampen rate-cut bets and trigger a short-term correction.
💡 Suggested Trading Strategy
🔻 SELL XAU/USD : ~$3,492–$3,495
🎯 TP: 40/80/200 pips
🛑 SL: ~$3,498
🔺 BUY XAU/USD : ~$3,462–$3,465
🎯 TP: 40/80/200 pips
🛑 SL: ~$3,459
Gold surged to a new high at $3,486/oz, surpassing earlier levels around $3,470, driven by elevated expectations of a Fed interest rate cut this month.
A weaker USD—amid dovish Fed comments and a court ruling limiting Trump-era tariffs—further underpinned gold’s appeal.
📉 Technical Analysis:
• Key resistance: $3,490–$3,495 (psychological barrier before $3,500).
• Nearest support: $3,460–$3,465 (EMA 09 + technical zone).
• EMA 09: Gold is trading above EMA 09 → bullish momentum.
• Candles / Volume / Momentum: Continuous rally with strong demand; however, a pullback is likely near resistance.
📌 Outlook:
Gold may continue climbing in the short term if Fed cut expectations remain firm and USD stays weak.
However, stronger US data (such as this week’s NFP) could dampen rate-cut bets and trigger a short-term correction.
💡 Suggested Trading Strategy
🔻 SELL XAU/USD : ~$3,492–$3,495
🎯 TP: 40/80/200 pips
🛑 SL: ~$3,498
🔺 BUY XAU/USD : ~$3,462–$3,465
🎯 TP: 40/80/200 pips
🛑 SL: ~$3,459
Trade active
In the short term, gold remains in an uptrend, but is likely to see a pullback around the 3,490–3,500 zone before any further breakout.Trade closed: target reached
Gold remains in a short-term uptrend, but it needs to break above $3,490–3,500 to confirm further upside; a drop below $3,465 could trigger a deeper correction
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📈 Daily Buy/Sell signals for investors
💡 Technical breakdowns & market outlooks
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📊 Forex | Gold | Crypto Market Insights & Signals
📰 Real-time news updates & expert analysis
📈 Daily Buy/Sell signals for investors
💡 Technical breakdowns & market outlooks
🔗 Join our free group: t.me/+DmS-dVFJMm40MDM9
📰 Real-time news updates & expert analysis
📈 Daily Buy/Sell signals for investors
💡 Technical breakdowns & market outlooks
🔗 Join our free group: t.me/+DmS-dVFJMm40MDM9
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.